Oil hits $100 as US economy slowly improves

Oil hits $100 as US economy slowly improves: Associated Press, by Chris Kahn Posted By: Photoonist- Thu, 17 Nov 2011 05:15:33 GMT New York ' Oil prices hit $100 a barrel on Wednesday after a six'week surge that may drive gasoline prices higher in coming months and slow the fragile economic recovery. For now, there a few reasons to explain why oil jumped 30 percent higher since early October. One is promising. The U.S. economy continued to show signs of strength, meaning that the thirst for fuel may grow. The other factor is troublesome, as concerns rise about potential disruptions to critical — and tightening — world oil supplies, including unrest in the key oil'producing areas of the Middle East and Africa.

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